B.P. Marsh, the niche venture capital provider to early stage financial services businesses, says the UK's expected withdrawal from the European Union is not anticipated to change the direction of the group's business.
B.P. Marsh says it remains the group's intention to continue to invest into the international financial services market, specifically in insurance but more generally across the sector, a policy which historically has had little or no direct impact from the UK's membership of the European Union.
The group says it is in discussions on a number of enquiries that fall within its heartland of insurance intermediaries, both in the UK and overseas.
Overseas investments would fall within the group's strategy to focus on geographic areas where the group sees sufficient opportunity for business development in partnership with a London-based investor, coupled with a suitably developed regulatory and compliance environment.
The group issued update on trading for the six months ended 31 July.
- New investment - Asia Reinsurance Brokers
- Disposals - Broucour and Randall & Quilter
- Increased shareholding in LEBC Holdings
- Realisation of final 1.6% stake in Hyperion Insurance Group
- Dividend of 3.76p per share announced for year ending 31 January 2017 (£1.1m in aggregate)
- Strong opportunity pipeline
- £6.6m net cash available
At 9:18am: (LON:BPM) B.P. Marsh Partners PLC share price was +1p at 189.5p